Tatva Chintan Pharma Chem files for Rs 450-crore IPO


Source: expresspharma.in expresspharma.in

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Share Read Article Specialty chemical manufacturing company Tatva Chintan Pharma Chem has filed preliminary papers with Sebi to raise Rs 450 crore through an initial share sale. The initial public offer (IPO) comprises fresh issuance of equity shares worth Rs 225 crore and an offer of sale to the tune of Rs 225 crore by existing promoters and shareholders, according to draft red herring prospectus (DRHP). Proceeds from the fresh issue would be used towards funding capital expenditure requirements for expansion of the company’s Dahej manufacturing facility; up-gradation of an R&D facility in Vadodara; and general corporate purposes. In addition,...